Four Score and 5 Years Ago...

A little over 5 years ago, one brave sole create a blog site. There were a handful of post and then there was nothing. Nothingness followed the nothing. Until one day, what the hell is this bookmark, and wham! Just curious to see who's still following any actually see this. To those that do.... what up from Malibu!

Never Fear...Ron Skywalker is Here!

http://globaleconomicanalysis.blogspot.com/2009/07/empire-strikes-back-kohn-warns-congress.html

The Empire Strikes Back - Kohn Warns Congress on Meddling in Fed's Affairs

Our hero, Ron "Skywalker" Paul, has managed to gather sufficient support to overthrow the Evil Empire widely known as the Fed.

In a brazen attempt to beat back our hero, the Empire has taken its case directly to Congress, seeking more power to rape and pillage the populace under cloak of secrecy.

The Washington Post picks up the story in Sith Lord Kohn warns Congress on meddling in the Empire's affairs.

The Federal Reserve Evil Empire on Thursday launched a robust defense of its independence and warned that efforts in Congress to put monetary policy under political sway would hurt the economy Empire.

Fed Vice Chairman Sith Master Donald Kohn said opening up some of the U.S. central bank's most sensitive decisions to political scrutiny could result in higher long-term interest rates and hurt the United States' credit rating discrimination against the Sith Lords.

Testifying before a congressional panel, Kohn sought to beat back a proposed bill that would open the U.S. central bank's policy decisions to audits by a federal an Ewok watchdog agency. More than half of the members of the U.S. House of Representatives Ewoks have signed as co-sponsors of the measure.

"Any substantial erosion of the Federal Reserve's Empire's monetary independence likely would lead to higher long-term interest rates as investors begin to fear future inflation," Kohn told a House the Ewok subcommittee.

Kohn's testimony comes as Congress debates President Sith Lord Barack Obama's plan for regulatory reform, which envisions the Fed Evil Empire taking on an expanded role monitoring risks across the entire financial system to help ward off future financial crises.

The proposal has boosted calls for greater accountability at the central bank, which already faces heavy scrutiny from lawmakers troubled by its role in bailing out Wall Street.

Kohn said blatantly lied while stating the administration's plan would not greatly expand the Fed's Empire's power, and said it would work hand-in-glove with monetary policy, not compromise it as some critics contend.

Fed Empire officials have had to endure rigorous congressional Ewok grillings over their aggressive actions to restore financial calm squash the noble rebellion. Their e-mails have been subpoenaed, recalling past episodes when the central bank came under attack and was forced to yield to the political will.

The proposed bill, put forward by Ron "Skywalker" Paul, a Texas Republican Jedi Knight and long-standing Fed Evil Empire foe, would expose decisions on monetary policy and emergency lending to audits by the Government Ewok Accountability Office.

The GAO EAO is currently prohibited from auditing these areas. Sith Master Kohn said removing this exclusion would be highly detrimental to the Evil Empire and could lead investors to worry that politics -- not economics -- sanity would guide the Fed's Empire's decisions.

Skywalker Paul's bill has 250 co-sponsors, including 78 Democrats Ewoks. But it has not been promoted by the Democratic Ewok majority leadership in the House, where it has yet to face even a committee-level vote thanks to Ewok traitor Barney "Benedict" Frank.

The Dark Lord, Ben "Vader" Bernanke, head of the Evil Empire, could not be reached for comment.

Ron "Skywalker" Paul: We Will Not Be Stopped

Unlike the Dark Lord, our hero, Ron "Skywalker" Paul will comment.

Jedi Knight Paul says We Will Not Be Stopped.

Congressman Jedi Night Ron Paul has vowed that he will not be stopped in his effort to audit the Federal Reserve Evil Empire, as he slammed Senate authorities for blocking the bill earlier this week.

Appearing on Fox News’ Freedom Watch with Judge Napolitano, Paul referred to Senate authorities blocking Jim DeMint’s attempt to attach the legislation, which already has 250 co-sponsors in the House, as a provision to a spending bill as a “facade”.

The amendment was blocked by Senate authorities on Monday after they claimed that it violated rules for provisions attached to spending bills.

“Technicalities are always ignored for things they the Evil Empire wants – this means they don’t want it and this is their organized effort now to stop us, but we’re not going to be stopped, it’s just going to energize everybody at the grass roots,” said the Congressman Jedi Knight.

"Skywalker" Paul said that it made no sense to give the Fed Evil Empire more power when they had already created the bubble that led to the economic collapse in the first place. Sith Lord Obama's new regulatory reform plan, which will officially hand the Federal Reserve Evil Empire complete dictatorial control over the U.S. economy, will give the Fed Empire the authority to “regulate” and shut down any company whose activity it believes could threaten the economy and the markets.

Jedi Paul explained that nobody knows exactly what would be uncovered but that was the whole point of having an audit in the first place.

“When we discover what’s really going on, I think the American people are going to demand the next step, they’re going to demand honest money – it’s happened many times in history,” added Skywalker.

Can they get this guy on CNBC

http://www.youtube.com/watch?v=KWu-efNN8PM&eurl=http%3A%2F%2Fzerohedge.blogspot.com%2F2009%2F06%2Fcan-we-get-this-guy-on-cnbc.html&feature=player_embedded

Terrific Financial Blog Worth Reading

Amazing Financial Blog.....if you want to know whats going on. http://market-ticker.org/


This is a post from a few days ago and in relation to Shellers Post.

What the hell is this nonsense?

The increases in spending and reductions in taxes associated with the fiscal package and the financial stabilization program, along with the losses in revenues and increases in income-support payments associated with the weak economy, will widen the federal budget deficit substantially this year. The Administration recently submitted a proposed budget that projects the federal deficit to reach about $1.8 trillion this fiscal year before declining to $1.3 trillion in 2010 and roughly $900 billion in 2011. As a consequence of this elevated level of borrowing, the ratio of federal debt held by the public to nominal GDP is likely to move up from about 40 percent before the onset of the financial crisis to about 70 percent in 2011. These developments would leave the debt-to-GDP ratio at its highest level since the early 1950s, the years following the massive debt buildup during World War II.

Certainly, our economy and financial markets face extraordinary near-term challenges, and strong and timely actions to respond to those challenges are necessary and appropriate. Nevertheless, even as we take steps to address the recession and threats to financial stability, maintaining the confidence of the financial markets requires that we, as a nation, begin planning now for the restoration of fiscal balance. Prompt attention to questions of fiscal sustainability is particularly critical because of the coming budgetary and economic challenges associated with the retirement of the baby-boom generation and continued increases in medical costs. The recent projections from the Social Security and Medicare trustees show that, in the absence of programmatic changes, Social Security and Medicare outlays will together increase from about 8-1/2 percent of GDP today to 10 percent by 2020 and 12-1/2 percent by 2030. With the ratio of debt to GDP already elevated, we will not be able to continue borrowing indefinitely to meet these demands.

Addressing the country's fiscal problems will require a willingness to make difficult choices. In the end, the fundamental decision that the Congress, the Administration, and the American people must confront is how large a share of the nation's economic resources to devote to federal government programs, including entitlement programs. Crucially, whatever size of government is chosen, tax rates must ultimately be set at a level sufficient to achieve an appropriate balance of spending and revenues in the long run. In particular, over the longer term, achieving fiscal sustainability--defined, for example, as a situation in which the ratios of government debt and interest payments to GDP are stable or declining, and tax rates are not so high as to impede economic growth--requires that spending and budget deficits be well controlled.

The problem is that Bernanke is enabling these sky-high deficits by intervening in the Capital Markets - that is, by buying both agency and Treasury bonds!

IF Bernanke was a true independent central banker, and IF he believed the first word that he was speaking, he would force fiscal restraint by refusing to buy any more MBS or Treasury debt.

Rates would move up, but this would put a 1990s-style bond market slam-hold on President Obama's and Congressional "drunken-sailor style" spending binge.

I only look at what people do - a good part of the time what people say is in fact exactly the opposite of what they're doing, because they are trying to goad you into doing something stupid so they can say "Sold To You!", sticking you with the bag.

I will buy that Bernanke is serious about his so-called "urgings" when he withdraws the idiotic attempt to support both MBS and Treasury issuance.

Perhaps - just perhaps - this speech is a warning - Ben has been reading some Tickers and listening to some Chinese folks, and is starting to get concerned that a bond market implosion may be in the offing - and he has no intention of being the one caught holding the bag when it blows up.

Bernanke Has Split Personality Disorder

Spend, spend...spent...pull back, pull back! What's wrong with this guy...

http://online.wsj.com/article/SB124403584900281215.html

Dont smoke the Green Shoots

Mao Bama wants to increase the Federal Reserves Powers.... http://uk.reuters.com/article/companyNewsMolt/idUKTRE5476T220090508

Take a look at how the Fed is doing managing risk....... http://www.youtube.com/watch?v=OVg1C7541yw&feature=related

Do not smoke the green shoots the govt and media are propagating. Remember....Bernake said the "Credit Crisis is Contained" last summer.

I hope Celente is wrong when he sais this is the Greatest Depression......either way, new lows in markets are ahead.

Aloha from Kauai!